Noble Corporation PLC (NYSE:NE) Shares Will Pay Quarterly Dividend of $0.50

Noble Corporation PLC (NYSE:NE) declared a quarterly dividend on Monday, October 26th. Stockholders of record on Wednesday, November 25th will be paid a dividend of $0.50 per share on Thursday, December 17th. This represents a $2.00 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, November 25th.

Noble has a dividend payout ratio of 71.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Noble to earn $1.97 per share next year, which means the company may not be able to cover its $2.00 annual dividend with an expected future payout ratio of 101.5%.

Noble Stock Performance

NYSE:NE opened at $48.02 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.91 and a current ratio of 1.91. Noble has a 52-week low of $27.67 and a 52-week high of $54.98. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 51.63 and a beta of 1.00. The business’s fifty day moving average is $44.41 and its 200 day moving average is $43.96.

Noble (NYSE:NE) last issued its earnings results on Monday, October 26th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.80). Noble had a return on equity of 1.93% and a net margin of 4.88%. The company had revenue of $728.76 million during the quarter, compared to the consensus estimate of $713.82 million. During the same quarter in the prior year, the business earned ($0.13) EPS. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. Research analysts predict that Noble will post 0.47 EPS for the current year.

Hedge Funds Weigh In On Noble

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NE. Oppenheimer & Co. Inc. bought a new stake in shares of Noble during the 3rd quarter valued at about $498,000. Park Avenue Securities LLC bought a new position in shares of Noble in the third quarter worth approximately $747,000. Signaturefd LLC bought a new position in shares of Noble in the third quarter worth approximately $329,000. Evergreen Capital Management LLC bought a new position in shares of Noble in the third quarter worth approximately $639,000. Finally, Wedbush Securities Inc. purchased a new stake in Noble in the third quarter valued at approximately $254,000. 68.14% of the stock is currently owned by hedge funds and other institutional investors.

Noble Company Profile

Noble Corporation plc (NYSE: NE) is an offshore drilling contractor that provides drilling services to the global oil and gas industry. The company operates a fleet of offshore drilling units, including drillships, semisubmersible rigs and jackup rigs, which are used to explore for and develop oil and natural gas reserves beneath the seabed.

Noble’s services include contract drilling, well planning, project management and other related support services. Its drilling units are designed to operate in a range of offshore environments, including deepwater and harsh-environment locations.